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Updated about 8 years ago,

User Stats

6
Posts
0
Votes
Brian Hoffman
  • Investor
  • Santa Barbara, CA
0
Votes |
6
Posts

Tenant lost his job 5 months into 1 yr lease...

Brian Hoffman
  • Investor
  • Santa Barbara, CA
Posted

Hi Awesome people,

I have a 4 bedroom house occupied by three young professionals and one of them recently lost their job. He's interested to move out due to lack of funding, but they are a few months into a one year lease. Unfortunately I did not include an early termination clause in the lease. I believe the other two housemates would like to stay, so one solution is for them to find a substitute and allow the unemployed to move on. 

Any thoughts on this? 

  • Is it appropriate to toss the lease, or should I hold him to the agreement?
  • Should I charge a fee for changing the lease? 
  • Should I start a new 1 yr lease? 
  • Any recommendations on the deposit/cleaning topic?
  • Any loose ends you think I may be missing?

I'm sorry, I'm new at this and admittingly not great at it...

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